Decred (DCR) rallied 11.7% to $24.12, reclaiming a $400 million market cap after buyers defended the $21 support level. Technical data shows buyer strength rose to 62, with a positive buy-sell volume delta indicating aggressive accumulation. The Relative Strength Index made a bullish crossover to 59, suggesting renewed demand.
The cryptocurrency Decred (DCR) experienced significant volatility, rallying to $27 before a sharp rejection dropped it to a local low of $21. The trend then reversed, with DCR climbing to a local high of $25.34 before a slight pullback.
At press time, DCR traded at $24.12, marking an 11.72% daily gain. Its market capitalization concurrently returned to the $400 million level, reflecting stronger capital inflows.
Buyers stepped in to defend key levels after the drop to $21. Data shows buyer strength rose to 62 and remained above 60 for two consecutive days, while seller dominance declined to 37.
The Accumulation and Distribution Volume showed a higher accumulation rate for the first time in two days. This was validated by Buy-Sell Volume metrics, where buy volume increased to 22.85k against a sell volume of 18.78k, leaving a positive buy-sell delta.
A net buying holding at 31 was “a clear sign of aggressive spot accumulation.” Historically, increased accumulation has tended to accelerate upside momentum.
As a result of buyer pressure, the altcoin’s Relative Strength Index (RSI) made a bullish crossover, hiking from 55 to 59. At the same time, its Directional Movement Index (DMI) hovered at 27.
The rising DMI indicated strengthened upward momentum driven by buyers. Such market conditions leave DCR in a position with a high likelihood of a trend continuation.
Therefore, if the recently observed demand holds, Decred could flip $25 and target $27. However, if momentum slows, creating a profit-taking window, DCR could pull back toward $20 again.
